{"id":3534011,"date":"2015-12-17T14:00:05","date_gmt":"2015-12-17T19:00:05","guid":{"rendered":"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/?p=3534011"},"modified":"2015-12-22T12:00:44","modified_gmt":"2015-12-22T17:00:44","slug":"haute-residence-new-york-luxury-real-estate-summit-recap-new-york-real-estate-power-players-panel-discussion","status":"publish","type":"post","link":"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/haute-residence-new-york-luxury-real-estate-summit-recap-new-york-real-estate-power-players-panel-discussion\/","title":{"rendered":"Haute Residence New York Luxury Real Estate Summit Recap: ‘New York Real Estate Power Players’ Panel Discussion"},"content":{"rendered":"
\"Pictured:<\/a>
Pictured: (from left to right) Beth Fisher, Dolly Lenz, Shlomi Reuveni, Stephen Kliegerman, Leonard Steinberg, Neal Sroka<\/figcaption><\/figure>\n

At Haute Residence\u2019s second annual New York Luxury Real Estate Summit, which took place November 18 in The Oak Room of The Plaza Hotel, New York\u2019s real estate experts discussed current luxury real estate trends, success stories, and what\u2019s next for The Empire State\u2019s booming real estate market.<\/p>\n

The summit<\/a> featured three panels, the second of which was the \u201cNew York Real Estate Power Players,\u201d moderated by Seth Semilof, co-founder and publisher of luxury publications Haute Living<\/em>, Haute Residence<\/em>, and Haute Time<\/em>. The first and third panels were the \u201cEast Coast Titan Developers<\/a>\u201d and the \u201cNext Generation of Power.\u201d<\/p>\n

In the second panel, veteran brokers and agents Beth Fisher, Stephen Kliegerman, Dolly Lenz, Shlomi Reuveni, Neal Sroka, and Leonard Steinberg spoke about how to source and service international buyers, modern marketing strategies, and market predictions for the upcoming year.<\/p>\n

Seth Semilof:<\/em><\/strong> How do you source and service buyers from other countries? Talk about how you advertise to them.<\/em><\/p>\n

\"Haute<\/a>
“…the red carpet treatment that we put out there is really to the brokerage community, and through them, we pull in buyers.\u201d \u2013 Shlomi Reuveni<\/figcaption><\/figure>\n

Shlomi Reuveni: \u201c<\/strong>I find that going after them in their hometown is not efficient and not practical and way too expensive\u2026 We cater to brokers that offer their services and have a database of international clients. So, the red carpet treatment that we put out there is really to the brokerage community, and through them, we pull in buyers.\u201d<\/p>\n

Stephen Kliegerman: \u201c<\/strong>The only other way that we\u2019ve really been able to accomplish the draw to the international buyer is obviously making sure that all of your social media, all of your online advertising, your Websites, are also able to be converted and translated into local languages.\u201d<\/p>\n

\"591352089_CB_8441_022AA304FE6AB5A457550A9F7938101C\"<\/a>
“I think ultimately the best buyers who are most focused and will have a third party understanding of what it is your selling will be the buyer who comes with a local broker.” \u2013 Leonard Steinberg<\/figcaption><\/figure>\n

Leonard Steinberg:<\/strong> \u201cI think ultimately the best buyers who are most focused and will have a third party understanding of what it is your selling will be the buyer who comes with a local broker. But I do believe that localized selling should be the focus on international buyers. At the same time, I think different strategies have to be applied to different price points and different styles of buildings in different parts of the city. And I believe that brand awareness of a specific type of building or property has great value to the local broker so that in their hometown\u2013\u2013whether it\u2019s Beijing or Sydney or London\u00ad\u00ad\u2013\u2013there\u2019s some awareness of the brand of the building that it is your marketing.\u201d<\/p>\n

\"Haute<\/a>
“In this business right now, we have to be focused on where we can best spend our time\u2026 But the truth is that we can\u2019t overlook the buyers that are in New Jersey or Connecticut or Ohio\u2013\u2013they all want to be in New York.\u201d \u2013 Neal Sroka<\/figcaption><\/figure>\n

Neal Sroka: \u201c<\/strong>The whole investment strategy of real estate has changed over the years. One of the things that I always said was that here in the United States, unless you\u2019re a Native American, we\u2019re all foreign buyers\u2013\u2013it\u2019s just a matter of when we came over\u2026 In this business right now, we have to be focused on where we can best spend our time\u2026 But the truth is that we can\u2019t overlook the buyers that are in New Jersey or Connecticut or Ohio\u2013\u2013they all want to be in New York.\u201d<\/p>\n

–<\/p>\n

Semilof<\/strong>: What do you predict for market conditions in the next year? What do you foresee as the next hot market for luxury real estate buyers?<\/em><\/p>\n

Steinberg: \u201c<\/strong>I have great belief in the American economy and I have great belief in a national buyer, but I think what we have to start maybe reconsidering is the concept of national and international and local and actually start thinking about this asset class of people, who are a global community\u2026 We have a lot of people who would love to invest in New York City\u2013\u2013to get cash out of their country, to own a piece of New York City because of our inflation rate\u2013\u2013so I think the traditional structures and classifications that used to exist and were comfortable are shifting.\u201d<\/p>\n

Kliegerman: \u201c<\/strong>We have developments in Manhattan, Brooklyn, and Queens, and it\u2019s a different international buyer and a different class of national and international buyer that buys in each of those market places as well, so when you say where are you focused, it\u2019s really where you\u2019re focusing for that particular product class, not necessarily only broad markets. Certainly the Asian marketplace is still some place where we\u2019re seeing a lot of cash flow come in. We\u2019ve seen a lot of South American money come in lately. I believe that the continued and heightened instability in the Middle East is going to push more Middle Eastern money to the states, and I think that will also trickle through to Europe.\u201d<\/p>\n

\"\u2013<\/a>
“We find knowing that market and knowing the buildings going up in San Francisco, knowing what\u2019s going on, knowing what the price points are, knowing the return on investment on one of their rentals\u2026 it really works for us.\u201d \u2013 Dolly Lenz<\/figcaption><\/figure>\n

Dolly Lenz:<\/strong> \u201cWe travel frequently to the West Coast and we do a lot of sourcing there and they do sourcing here with us, and we find knowing that market and knowing the buildings going up in San Francisco, knowing what\u2019s going on, knowing what the price points are, knowing the return on investment on one of their rentals\u2026 it really works for us.\u201d<\/p>\n

Beth Fisher: \u201c<\/strong>It\u2019s a simple idea: Fish where the fish are. So, if you\u2019re seeing people from a certain area gravitating, go deeper into that. Understand that better; relate to those brokers better. You can\u2019t go on wild goose chases in this business\u2013\u2013it\u2019s very expensive.\u201d<\/p>\n

–<\/p>\n

Semilof<\/strong>: Talk about the marketing strategies that you\u2019re implementing today that are different than what you were doing, say, 10 years ago.<\/em><\/p>\n

\"Haute<\/a>
“People are looking to be engaged and entertained\u2026 That is the trick\u2013\u2013it\u2019s how you create a three-dimensional experience that is compelling for a buyer.” \u2013 Beth Fisher<\/figcaption><\/figure>\n

Fisher: \u201c<\/strong>Speaking from the new development side, I think the bar is much higher in terms of customer experience\u2026 People are looking to be engaged and entertained\u2026 That is the trick\u2013\u2013it\u2019s how you create a three-dimensional experience that is compelling for a buyer.\u201d<\/p>\n

Lenz:<\/strong> \u201cBut I think it can be very negative\u2026 We have used 3-D, and then people didn\u2019t have to bother coming to the property\u2026 And I couldn\u2019t get them to come because they say, I already saw it<\/em>.\u201d<\/p>\n

\"\u2013<\/a>
\u201cI think PR is used now much more than it ever was in the past. You need to have the right PR, and you need to have crisis management as well\u2026” \u2013 Stephen Kliegerman<\/figcaption><\/figure>\n

Kliegerman: \u201c<\/strong>I think PR is used now much more than it ever was in the past. You need to have the right PR, and you need to have crisis management as well\u2026 Social media is being used much more, but again, I think it depends on what your price point is.\u201d<\/p>\n